China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o held steady in the week to Friday August 23, with a few slight increases seen in Monterrey.Fastmarkets' assessment for the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was 5,000 pesos per tonne on Tuesday August 27, up by 50 pesos from 4,950 pesos per tonne a week earlier.Sim...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreVale, tender, 160,000 tonnes of 62.51% Fe Standard Sinter Feed Tubarao, traded at the October average of Fastmarkets' index for iron ore...Read More
The seaborne coking coal market was quiet on Tuesday August 27, leaving market participants keenly anticipating the next transaction to gauge the price direction.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $166.33 per tonne, up $0.08 per tonne Hard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr...Read More
Base metals prices on the Shanghai Futures Exchange edged up during morning trading on Tuesday August 27 after tensions between China and the United States appeared to ease a day earlier after both sides announced fresh tariffs against each other last Friday.Leaders of both countries expressed willingness to return to the negotiations table to resolve trade disputes between the world's two largest...Read More
Key data from the August 23 pricing session in London.Key drivers:- Cobalt prices consolidated their recent gains, with traders continuing to restock in anticipation of tightness resulting from the closure of the Mutanda mine in the Democratic Republic of Congo at the end of the year.- Modest consumer buying took place at similar price levels, but characterized by smaller volume deals. End-users w...Read More
Stainless cold-rolled sheet prices were flat in the United States on Monday August 26, and any future price catalyst might come from the direction of London Metal Exchange nickel trading.Domestic mills held base prices firm, with Fastmarkets' assessment for stainless steel 304 cold-rolled sheet, fob mill, steady at $1.21 per lb on Monday as a result.Lead times were fairly short, pegged a...Read More
Chinese vanadium exporters continued to reduce their offer prices due to lackluster overseas buying interest in the week ended Friday August 23, while European and US markets reported thin trading amid summer mill outages. Chinese exporters reduce offers amid limited buying interest abroad. European ferro-vanadium market faces thin trading. Vanadium pentoxide suppliers in Europe raise...Read More
Fastmarkets MB has today discontinued 40 steel scrap, non-ferrous scrap and foundry ingot prices. After a two-month notice period, Fastmarkets MB has delisted and ceased the publication of steel scrap prices from BDSV; aluminium alloy prices from Affimet; zinc alloy prices from Brock Metals; and non-ferrous scrap and foundry alloy prices from Lettre D'Information Metaux, Assomet and CF Booth. A fu...Read More
Demand worries still dominate sentiment in the base metals Most base metals are continuing to trade sideways-to-lower as they wait for fresh developments to improve the macro picture and their demand-side fundamentals. After last week’s Jackson Hole symposium and the weekend’s G7 meeting failed to provide much of a boost, yesterday’s news from China that the government is considerin...Read More
LME aluminium continues to trade sideways... LME aluminium price action appears unwilling to trade out of the current tight range of $1,750-1,800 per tonne despite recent cancellation of 21,800 tonnes from LME-registered warehouses in Port Klang and Singapore on Thursday August 22. ...but SHFE at 10-month high on supply disruptions However, the Shanghai Futures Exchange most-traded October contrac...Read More
Aluminium LME aluminium price action closed with a negative daily candlestick on Tuesday August 27. The light metal was under strong selling pressure from the declining 20 DMA and, with short sellers still the dominant force in the complex, a revisit towards the August 2019 low of $1,745 per tonne looks highly possible in the coming days. Its technical indicators, the daily RSI and stochastic...Read More
The fundamental picture of the refined copper market tightens this year The ICSG estimates that the refined copper market was in a deficit of 190,000 tonnes in the first five months of the year, compared with a smaller deficit of 131,000 tonnes in the same period of 2018. The slightly deeper deficit was the result of a stronger contraction in global refined output (-1%), which more than offset the...Read More
Prices up, but Asian premiums lower despite Port Pirie outage While benchmark lead prices are being supported by the second significant unplanned disruption at Nyrstar’s Port Pirie smelter in Australia since June – this one a 12-week production outage – it is not lifting premiums, yet. Although it is reportedly spurring more enquiries for lead, Fastmarkets’ latest assessment of...Read More
Consolidation continues in high ground, for now... As nickel waits for the next news from Indonesia, to confirm one way or another whether the ore export ban will be reintroduced from 2022 or earlier, prices are doing well to still be consolidating as high as $16,000 per tonne. Reports suggest it is now up to President Joko Widodo to decide if the country will bring forward the ban. ...despite a m...Read More